Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.053%

Price spread now: Binance against Injective−0.124%87s7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.308% of the position

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.438%−$44 on $10k

Price spread, last 4 days (all we have)+0.122%+$12 · spread now −0.124%, 7d avg −0.073%

Together, before fees−0.316%−$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Binance is 0.050% cheaper against Injective than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.073%). Swap the legs. The two prices were read 87 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AAPL/USDC PERP	339.26	0.0220	pay 0.0028% / 1h	57m 48s	$191K	$44K	30x
Short	Binance AAPLUSDT	338.84	0	get 0.0000% / 8h	3h 57m	$21.9M	$67.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee BinancebpOrdersPrice spread, now −0.124%Rate

Funding earned: −$46.2
Price spread: −0.124% → −0.073%: −$5.04
Slippage, 4 orders: −$20.82
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$82.09
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from Injective: live order book, 61 min ago; Binance: live order book, 15 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective live order book, 61 min ago	8.56 bp	8.6 bp −$9	8.6 bp −$86	57597.5 bp −$5.76M	327987.0 bp −$163.99M
Sell Binance live order book, 15 min ago	0.15 bp	5.7 bp −$6	8.9 bp −$89	23.6 bp −$2,358	doesn't fit

AAPL on 33 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX AAPLUSDC	−0.0342%	4h	338.78	−0.143%	$81K	$328K	20x	as long as short
Nado AAPL-PERP	−0.0069%	1h	338.72	−0.158%	$554K	$38K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0045%	1h	338.56	−0.206%	$28K	$67K	10x	as long as short
BloFin AAPL-USDT	−0.0010%	8h	338.84	−0.124%	$341K	$168K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.74	−0.153%	$122K	$292K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	338.75	−0.151%	$284K	$2.0M	10x	as long as short
Binance AAPLUSDTshort	0.0000%	8h	338.84	−0.124%	$21.9M	$67.0M	25x
Bybit AAPLUSDT	0.0000%	8h	338.78	−0.141%	$5.9M	$53.5M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.82	−0.130%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.60	−0.195%	$3.0M	$4.2M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AAPLUSDT	0.0000%	8h	338.89	−0.109%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	338.83	−0.125%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.90	−0.106%	$17K	$411K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.83	−0.127%	$732	$4.6M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	338.91	−0.103%	$53K	$225K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	338.83	−0.127%	$2.1M	$7K	10x	as long as short
QFEX AAPL-USD	+0.0030%	1h	338.79	−0.139%	$3.2M	$4.6M	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.69	−0.168%	$782K	$2.4M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.70	−0.165%	$944K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	338.72	−0.159%	$266K	$66K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.64	−0.183%	—	$45K	25x	as long as short
Hotstuff AAPL-PERP	+0.0048%	1h	338.68	−0.171%	$36K	—	20x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	338.69	−0.168%	$40.5M	$75.9M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.71	−0.162%	$278K	$405K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.68	−0.171%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.58	−0.200%	$1.3M	$2.5M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0096%	1h	338.78	−0.141%	$659K	$652K	10x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.69	−0.168%	$1.4M	$38K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.69	−0.168%	$946K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.71	−0.162%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.71	−0.161%	$11K	—	10x	as long as short
Injective AAPL/USDC PERPlong	+0.0220%	1h	339.26	long leg	$191K	$44K	30x
Phoenix AAPL	+0.0283%	1h	338.81	−0.133%	$5K	$11K	20x	as long as short